Treasury Bills

BAHAMAS GOVERNMENT TREASURY BILL

TERM SHEET

Tender Date: 11th December 2024

Instructions for participation in the Treasury Bill Tender are outlined below:

Participation: Investors may participate in the tender process in three ways:

(1) Competitive Participation (Tender of nominal value $500,000 or greater) – prospective investors submit tenders providing a tender price for consideration.

a) Central Bank Customers: Tenders are to be submitted electronically, in PDF format, to domestictenders@centralbankbahamas.com, no later than 3:00 p.m. on the Tender Date, or;

b) BISX Registered Broker-Dealer Customers: Submit applications through your respective broker-dealer, following their instructions/guidelines.

c) Competitive investors are permitted to purchase both 91-day and 182-day T-Bills

Example of purchase of 91–day T-Bills by a competitive participant:
"[Investor Name] hereby tenders for 91-day Treasury Bills at nominal value $1,000,000 at the price of $99.3874."

(2) Non-competitive Participation (nominal value below $500,000) – following the initial tender and based on availability, investors may purchase at the market-derived average tender price.

a) Central Bank Customers: Tenders are to be submitted electronically, in PDF format, to domestictenders@centralbankbahamas.com, no later than 3:00 p.m. on the Tender Date or;

b) BISX Registered Broker-Dealer Customers: Submit applications through your respective broker-dealer, following their instructions/guidelines.

c) Non-competitive investors are permitted to purchase both 91-day and 182-day T-Bills.

(3) Prospective investors may also contact the Markets Unit at domesticdebt@centralbankbahamas.com expressing interest in purchasing available T-Bills via the secondary market.

Allocation: - Successful participants will receive a confirmation on the first business day following the tender.

Purchase Price: Non Competitive Participation Investors participating non-competitively will purchase at the average tender price derived from the tender i.e. market price. For a non-competitive investor purchasing $100,000 of 91-day T-Bills at the prevailing average tender price of 99.3598 on April 22, 20XX, the cost was $99,359.80**.

**Issue Date: April 22, 20XX
Maturity Date: July 22, 20XX
Cost to investor $100,000 * (99.3598/100) = $99,359.80

Grow/Shrink: Each security in this offer can grow or shrink based on the total tenders received. The entire offer can also grow or shrink. The issuer maintains the right to cap the offer, at its sole discretion.

Refunds: All refunds will be disbursed within three business days following the settlement date.

Certificates: Successful applicants will receive an electronic copy of their allotments, via email, within three business days following settlement.

New Institutional Investors:

Broker-dealers: New Institutional investors may participate through a BISX registered broker-dealer, a list of which may be found at: https://bisxbahamas.com/broker-dealers/.